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Dow Jones Continues To Decline on Wednesday

Eray Bekir
Market News

Stocks fell on Wednesday as bond yields declined again, triggering concerns about the economic outlook. Increasing trade tensions in the China-U.S. trade fight also weighed on markets.

The Dow Jones Industrial Average dropped 221.36 points to 25,126.41 while the S&P 500 slid 0.7% to 2,783.02. The Nasdaq Composite declined by 0.8% 7,547.31. The Dow briefly fell more than 400 points as the 10-year Treasury note yield hit its low of the day.Dow drops more than 200 points as rates slide.

The 10-year Treasury note yield fell to its lowest level since September 2017 before rebounding to about 2.26%. A portion of the yield curve further inverted as 3-month Treasury bills last yielded 2.36%, well above the 10-year rate. A yield curve inversion is seen by traders as a potential sign that a recession is in the horizon.

Bank shares fell along with yields. Bank of America and J.P. Morgan Chase both slid more than 0.2%. Citigroup dipped 0.1%. Shares of the three banks had dropped more than 1% earlier in the day.

The S&P 500 broke below 2,800, a key technical level watched by traders. The broad index also traded around its lowest level since late March.



International Financial Markets Department

Euro-Finance Ltd.



*This material should not be considered as a recommendation for buying/selling securities.